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Wealth, Financial Liberalization, and the Demand for Money in Japan

International Monetary Fund - 1989

This paper presents estimates of a demand function for broad money in Japan. The function explains both secular trends in broad money during the 1970s and 1980s and the sharp decline in the income velocity of broad money during 1986-88. The inclusion of wealth and a measure of the return on...

Persistent link: https://www.econbiz.de/10014395815

Effects of Financial Globalization on Developing Countries : Some Empirical Evidence

International Monetary Fund - 2003

Persistent link: https://www.econbiz.de/10014409725

Taxation Windfall Internationalization Korean Capital Markets

International Monetary Fund - 1990

The paper describes the evolution of the corporate stock and bond markets in Korea and the Government’s role in this evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in gradually opening the Korean capital market to...

Persistent link: https://www.econbiz.de/10014395771

Financial Globalization : The Impact on Trade, Policy, Labor, and Capital Flows

International Monetary Fund - 2007

Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development … focuses on financial globalization, including the policy implications of the huge growth in cross-border capital flows …. Articles also look at the expansion of world trade, explore the impact of globalization on jobs, taxation, and the poor, and …

Persistent link: https://www.econbiz.de/10014404799

Economic and Monetary Integration and the Aggregate Demand for Money in the EMS

International Monetary Fund - 1990

This study shows that the aggregate demand for M1 in the group of countries participating in the Exchange Rate Mechanism (ERM) of the European Monetary System can be expressed as a stable function of ERM-wide income, inflation, interest rates, and the exchange rate of the European Currency Unit...

Persistent link: https://www.econbiz.de/10014396161

Economic Reform and the Demand for Money in China

International Monetary Fund - 1990

Error correction models of the demand for a range of monetary aggregates in China are estimated with quarterly data for the period 1983–88. The estimated models fit the data reasonably well and appear to be relatively stable. Money demand is found to be sensitive to changes in expected...

Persistent link: https://www.econbiz.de/10014396177

The Dynamics of Money Demand and Prices

International Monetary Fund - 1990

The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its...

Persistent link: https://www.econbiz.de/10014395786

Money Demand in Canada

International Monetary Fund - 1989

The pace of financial market innovation in Canada quickened in the past decade or so with implications for the empirical relationships between the various monetary aggregates and other economic variables. Against this background, this paper, using an error correction formulation, presents new...

Persistent link: https://www.econbiz.de/10014395789

Money Demand in the United States

International Monetary Fund - 1988

This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an “error...

Persistent link: https://www.econbiz.de/10014396094

Monetary Policy in the Philippines During Periods of Financial Crisis and Changes in Exchange Rate Regime : Targets, Instruments, and the Stability of Money Demand

International Monetary Fund - 1989

This paper examines some of the key issues in the conduct of Philippine monetary policy since 1984, including the various shocks to the economy and the monetary authorities’ choice of intermediate policy targets and instruments used to achieve those targets. Against this background, estimates...

Persistent link: https://www.econbiz.de/10014396098

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